...it's evaporating. Crude oil is a mixture of a bunch of different hydrocarbon compounds, from the lightest (methane, CH4) on down to benzenes and asphaltenes. Yes, the stuff we know as natural gas, methane, propane, and butane, are part of the mixture. These flash off fairly rapidly, carrying some of the heavier stuff with them. As you move down the chain, weight and carbon chain length wise, you get to the compounds that make up gasoline, kerosene, and diesel fuel. Finally there are the asphaltenes, which are heavy, thick, and, uh, are the primary component of highway paving material and roofing tar.
There are several articles out there that mention the oil "weathering". That means that the lighter hydrocarbons are flashing off / evaporating, leaving behind heavier, thicker, less volatile ones. By the time Ixtoc oil got to Padre Island in '79, it was mostly tar balls. Wave action also helps break up the slick and causes the oil to emulsify in the water (the coffee colored brown stuff in reports). As it degrades to a more tar like and less oil like substance, it becomes more viscous and heavier. It doesn't float as well (some of it will sink and drop to bottom), and it doesn't spread out as much, or stick to things, like birds, as well. So, the longer this thing takes to get to shallow water and land, the better. My tongue in cheek comment about the best thing that could happen is that the loop current could grab it and take it into the Atlantic wasn't totally based on it going to FL instead of LA & MS, but also on the fact that that would give the oil more time to weather. Tar balls on the beach are much less of an environmental problem than fresh (or "live") oil in an estuary.
I can't tell what this oil is like. In one report it's too thick and tar like to be a good candidate to burn, and that's a bad thing. In another report it's lighter than Prudhoe Bay crude, and that's a good thing. (Although I think they may have actually been confused and were really trying to say that Prudhoe crude is sour and this oil is sweet, and that's a good thing).
It could be much worse than we imagine, or it may not be nearly as bad. I scoured the back articles of the Times Picayune today, and someone really needs to give Bobby Jindal a Valium.